According to a disclosure by the IFC, the proposed equity investment of up to $4 million would go towards EmergingTech Ventures Fund II (Emtech II).

Emtech II, managed by EmergingTech Ventures SA (Emtech), is a Moroccan-domiciled early-stage venture capital fund seeking to raise a total of $60 million, with a potential hard cap of $80 million.

Emtech, a limited liability company founded by Meriem Zairi, Abdelouahid Benlamlih, and Sidi Mohammed Zakraoui, focuses on investing in promising startups with a presence or future plans for operations in Morocco, Tunisia, and Francophone West Africa.

his region encompasses a number of countries in West Africa where French is a primary language of business and education.

The IFC’s proposed investment would contribute to the first closing of Emtech II, which is targeted at $40 million.

This signifies the IFC’s confidence in Emtech’s ability to identify and support high-growth tech ventures in the region.

By backing Emtech II, the IFC aims to foster the development of a dynamic early-stage tech ecosystem in North and West Africa.

This investment would provide much-needed capital to promising startups, potentially fueling innovation and job creation across the region.